@Matt J.As an out-of-state investor in San Diego, key tax and legal considerations include filing a California non-resident tax return for rental income or capital gains, managing double taxation with potential tax credits from your home state, and complying with withholding requirements on property sales.

By this time next year, we aim to have invested in our first rental property and improved our credit, setting a strong foundation for a successful and fulfilling future.I am open to any knowledge or advice anyone has to give as I am currently learning about real estate investing. 

One thing I would highly recommend that I wish I knew was ask if the seller would be willing to give a credit for a sewer scope, and get a feel for how much they will give. 

What credit score do you anticipate tenants having?

I have a US credit score, US bank accounts and some US-based income, but my paychecks are not.

FHA vs Conventional will largely come down to your credit score, downpayment, use, income/DTI, and future plans.

With middle 700 credit scores you can push your rate into the mid 6s today.

my research shows 2.99% fee with Debit or Credit card to tenant if they pay use these forms of payment.

I think the main issue is believing that unsecured prom notes are Guaranteed. unless I saw the note and the note stated that ( which I highly doubt) the return of funds and payment of interest solely rests on the full faith and credit of what was invested in and the sponsor..

While I am just a stranger on the internet.